Today saw the launch of Third Financial’s Offshore Custody service, provided by TPS Offshore (Jersey) Limited. The service provides a full suite of custody, clearing and settlement and is in response to a growing demand from both existing and prospective customers.
As with its onshore service, this new solution is powered by Third Financial’s award-winning Tercero software and is managed by its highly experienced operational staff in London.
The service is designed for wealth management firms that have a demand, typically from their non-UK domiciled clients, to have their client assets registered in an offshore jurisdiction and can be taken as a stand-alone offering or in conjunction with a traditional onshore service.
Commenting on the new venture, Group CEO, Ian Partington said: “We are delighted to be able to offer our clients this new service, which has been warmly received. We’re in discussion with several firms interested in using the service and we look forward to new signings in the forthcoming months.”